PHILIPS COS TO MERGE INTO ONE

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Electronics major Philips is merging its three independent arms - Philips India Ltd., Philips Medical Systems and Philips Software System -into a single entity, report Our Delhi Bureau. The merger involves a swap ratio of one share of Philips Software Centre for two shares of Philips India Ltd. and 78 shares of Philips Medical Systems for one share of Philips India. Philips India in turn will be renamed as Philips Electronics India Ltd.

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